WHAT THE EXPERTS PREDICT THE 2022 HOUSING MARKET WILL LOOK LIKE

Danielle Hale, Realtor.com chief economist:

“Home sales are expected to increase another 6.6% and home prices to rise another 2.9% on top of 2021 highs.”

 

Bob Pinnegar, president and CEO of the National Apartment Association:

“Demand for apartment and single-family homes continues to outpace supply, which ultimately drives competition and hurts housing affordability.”

 

Daryl Fairweather, chief economist for Redfin:

“After two years of unprecedented uncertainty in the housing market, we’re expecting 2022 to be just as unpredictable.”

 

Keith Gumbinger, vice president of mortgage information website HSH.com:

“The outsized annual increases in home prices seen in 2021 should slow in 2022, but even so will leave home prices at or near record highs.”

 

Carlo Siracusa, president of Weichert Residential Sales:

“The demand for real estate will remain strong nationally throughout 2022. Buyer demand will continue to be driven by higher wages, improving employment, and rising stock market values. The lack of inventory will remain the biggest obstacle.”

 

Frederick Warburg Peters, CEO of Warburg Realty in New York City:

“Increasing interest rates will most likely impact the national real estate market more than any other factor during the early months of 2022. While there is no reason to anticipate a falling market, the interest rate rise will have a psychological impact in dampening any market exuberance.”

 

Skylar Olsen, principal economist for Tomo:

“The pre-pandemic fundamentals were indicative of a demographic wave crashing onto too few homes. The majority of forecasts expect home prices to continue to rise next year, and we agree. Housing will be slower, but only compared to the fastest market in history.”

 

M. Ryan Gorman, CEO of Coldwell Banker Real Estate:

“the seller’s market that we’ve seen this year may continue into 2022.”

 

Frank Nothaft, chief economist for CoreLogic:

“2022 should be a strong year for housing. Look for mortgage rates to rise but remain historically very low, home sales to grow to a 16-year high, price and rent growth to slow, refinance to shift toward cash-out, and delinquency rates to remain low albeit with an uptick in distressed sales.”

 

Matthew Vernon, a retail and centralized lending executive for Bank of America:

“We expect to see a continued increase in home-buying interest and competition while mortgage rates remain low. We’ll also see some homeowners wanting to trade up to larger homes.”